"See, here's the thing you need to explain - I'm not going anywhere," Jaden said. "The thing that people don't get is that everything at his house is free, so I can get anything and everything I want at his house.

"So I think I'm gonna be there for 20, 30 more years. But he says as soon as I have a movie that's bigger than one of his movies, then I have to get my own house."

Will chipped in: "Yeah, there ain't no reason to live in my house any more!"

Will also explained that he thinks his comments about Jaden wanting emancipation may have been taken out of context, saying: "I think I made a joke in Tokyo."

Jokingly stroking his son's leg and putting on a funny voice, he added: "I mean, my baby boy, he's never leaving me ever, ever! No emancipation for the Smith kids."

Will and Jaden will appear together in the upcoming movie After Earth, which is released in the US on May 31 and in the UK on June 7.

Watch Will and Jaden Smith talking about emancipation on The Ellen DeGeneres Show below: